Monday, March 15, 2010

At Public Companies -- Act Ihere; Act II is this blog most-generally (summarized here). I'll have more soon, but this Act III is going to play out largely in secret. Why? Because this is a "dark pharma/consumer health care" role for the two -- so whatever they do, it will be much harder to track -- as the company is not public (per Reuters):

. . . .Two former top executives of drugmaker Schering-Plough Corp were named on Monday as new leaders of privately owned eye-care company Bausch & Lomb.

Former Schering-Plough Chief Executive Officer Fred Hassan will be chairman of Bausch's board, while Brent Saunders, who previously served as president of Schering-Plough's consumer healthcare unit under Hassan, will be Bausch's CEO.

Both appointments are effective immediately, said Bausch, which is majority-owned by Warburg Pincus.

Bausch's Chairman and CEO Gerald Ostrov is retiring and will serve as a consultant to the new leaders. . . .

The company was taken private a few years back. Guess who took it private? That's right -- Warburg Pincus -- in a $4.5 billion buyout. Where Fred Hassan is now a senior advisor. Cozy.

This is a one meeting a month gig for Hassan. He was first named to the B&L board last year, just seven days after the bust-up with Merck closed. Yawn.

3 comments:

Anonymous
said...

What value does/did this story have? "There may be something weird going on with B+L since a member of their board has ties to WP". It's not a conspiracy or a coincidence. You hire who you know and WP is in close contact with all B+L brass. If this is reflective of your journalistic reporting skills, you'll peak with a lowly blog. Bring something to the table we can chew on.

Senator Grassley's Concern

stats

FDA Drug Facts

CEO Fred Hassan

The Condor. . . .

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